Greenlight Capital Re, Ltd. (NASDAQ:GLRE) Sees Significant Decline in Short Interest

Greenlight Capital Re, Ltd. (NASDAQ:GLRE) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totalling 141,300 shares, a drop of 19.5% from the March 15th total of 175,500 shares. Based on an average daily volume of 96,500 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.5% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Greenlight Capital Re from a “buy” rating to a “hold” rating in a research report on Wednesday, March 12th.

Insider Buying and Selling at Greenlight Capital Re

In other news, insider Brian Joseph Oreilly sold 8,000 shares of the stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $14.00, for a total transaction of $112,000.00. Following the transaction, the insider now owns 99,330 shares of the company’s stock, valued at approximately $1,390,620. This trade represents a 7.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 22.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GLRE. JPMorgan Chase & Co. lifted its stake in shares of Greenlight Capital Re by 288.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 48,646 shares of the financial services provider’s stock worth $664,000 after acquiring an additional 36,116 shares during the period. Barclays PLC lifted its holdings in Greenlight Capital Re by 275.5% in the 3rd quarter. Barclays PLC now owns 36,077 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 26,468 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Greenlight Capital Re in the 4th quarter worth approximately $367,000. Wilmington Savings Fund Society FSB bought a new stake in Greenlight Capital Re during the third quarter worth approximately $1,188,000. Finally, Rhumbline Advisers grew its position in Greenlight Capital Re by 12.5% in the fourth quarter. Rhumbline Advisers now owns 47,675 shares of the financial services provider’s stock worth $667,000 after buying an additional 5,304 shares during the last quarter. 41.52% of the stock is owned by institutional investors and hedge funds.

Greenlight Capital Re Stock Performance

Shares of NASDAQ GLRE traded down $0.15 during midday trading on Monday, hitting $13.30. The company’s stock had a trading volume of 59,253 shares, compared to its average volume of 89,294. The firm has a market cap of $459.70 million, a P/E ratio of 5.28 and a beta of 0.66. Greenlight Capital Re has a 1-year low of $11.93 and a 1-year high of $15.82. The firm’s fifty day moving average price is $13.41 and its 200-day moving average price is $13.84. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.02 and a current ratio of 3.02.

Greenlight Capital Re (NASDAQ:GLRE) last released its quarterly earnings results on Monday, March 10th. The financial services provider reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($1.40). Greenlight Capital Re had a net margin of 12.38% and a return on equity of 13.95%. The business had revenue of $143.76 million for the quarter.

Greenlight Capital Re Company Profile

Greenlight Capital Re, Ltd., through its subsidiaries, operates as a property and casualty reinsurance company worldwide. The company offers various property reinsurance products and services, including automobile physical damage, personal lines, and commercial lines. It also provides casualty reinsurance products and services comprising general liability, motor liability, professional liability, and worker's compensation; and accident and health, transactional liability, mortgage insurance, surety, trade credit, marine, and energy, as well as other specialty products, such as aviation, crop, cyber, political, and terrorism products.